According to the latest data, the Fear and Greed Index for the crypto market, published by Alternative, has dropped from 29 points yesterday to 22 points. This substantial change indicates that market sentiment has significantly shifted into the 'Extreme Fear' phase. The assessment of this index covers several key indicators including market volatility, trading volume, social media activity, market surveys, Bitcoin's proportion in the overall market, and Google trend analysis. The calculation method of this index shows that when the index is below 70, the market may be experiencing an 'Extreme Fear' situation, which typically means that investors are pessimistic about the market prospects, and the market may be nearing a bottom or preparing for a potential rebound.